- Weathering the hard market—is your CAR policy watertight?
- Insuring clauses
- Exclusions from cover
- Policy conditions
Insurance & Reinsurance analysis: The increasing prevalence of water damage losses on construction projects, combined with hard market conditions, has led to a rise in disputes over insurance policy response for these types of events. Claims in consequence of cascading water from burst pipes or adverse weather conditions often give rise to disagreements over the occurrence and timing of ‘damage’, in order to trigger coverage under contract works policies, and a number of standard exclusion clauses may impact upon the level of protection. Amy Lacey, partner at Fenchurch Law considers Contractors All Risks (CAR) policies and the meaning of ‘damage’.
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